Canada’s main stock index climbed on Wednesday, supported by gains in mining stocks as gold prices strengthened. Investors also reacted to a report that Iranian operatives had quietly approached the United States about potential talks to resolve the conflict. Prime Minister Mark Carney said the conflict represented a “failure” of the international system, adding that the US did not consult its allies before launching strikes against Iran. Spanish Prime Minister Pedro Sánchez also called the US-Israeli war in Iran a “disaster” that he likened to Russia’s invasion of Ukraine and Israel’s assault on Gaza.
US Treasury Secretary Scott Bessent told reporters that the United States plans to issue “a series of announcements” aimed at ensuring oil continues to move through the Persian Gulf. His comments followed President Donald Trump’s statement on Tuesday that the US is prepared to provide insurance for tankers in the region and has the Navy escort vessels through the Strait of Hormuz if needed. Oil prices, which had surged in response to the Middle East conflict, continued to ease on Wednesday after Bessent’s remarks. He also confirmed that Trump’s recently announced 15 per cent global tariff will take effect this week, though he expects US tariff levels to “return to pre–Supreme Court decision rates” within five months.
| TSX | 33,942.86 | +157.92 |  |
| TSXV | 1,079.52 | +3.29 | |
| CSE | 177.80 | +1.63 | |
| DJIA | 48,739.41 | +238.14 | |
| NASDAQ | 22,807.48 | +290.79 | |
| S&P 500 | 6,869.50 | +52.87 | |
The Canadian dollar traded for 73.36 cents US compared to 73.17 cents US on Tuesday.
US crude futures traded US$1.34 higher at US$75.90 a barrel, and the Brent contract rose US$1.03 to US$82.43 a barrel.
The price of gold was up US$24.33 to US$5,136.69
In world markets, the Nikkei was down 2,033.51 points to ¥54,245.54, the Hang Seng was down 518.60 points to HK$25,249.48, the FTSE was up 83.52 points to ₤10,567.65, and the DAX was up 414.71 points to €24,205.36.
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